An experienced business professional, Randall Cecola specializes in leadership, business development, and the turnaround process for distressed businesses. Randy Cecola has held a number of key leadership positions over his 25 year executive career, including chief executive officer of Darwin Technology Group, The Choice for Staffing, and Triumph Packaging Group.
Small businesses can experience resistance from banks, due to lack of profit and elevated risk levels. In a precarious economical situation, traditional loan products may not be accessible to new businesses, personal finances sometimes do not provide enough capital, and not everyone has the right business relationships or promise of profit to attract investors. In recent years, creative financing solutions have slowly infiltrated the market. Micro-lending, peer-to-peer lending, and crowdfunding have grown in popularity over recent years.
The concept of crowdfunding is simple and attractive. Ventures turn directly to the public for donations and investments, sometimes through Internet portals such as Indiegogo and Kickstarter. In return for the investments and donations received, companies may offer rewards, shares, or updates to investors. Donation amounts may be small, but the exposure gained through crowdfunding can prove instrumental in raising funds quickly, and a viral crowdfunding campaign can provide significant positive exposure for a venture.